69-14-507. Authorization to issue securities. - Montana Statutes

     69-14-507. Authorization to issue securities. Any railroad corporation whose line is wholly or partly within this state, whether chartered by or organized under the law of the state or territory of Montana, the United States, or any other state or territory:
     (1) shall have authority and power to make, issue, negotiate, and deliver its bonds, securities, or obligations to such amount, not exceeding its authorized capital stock, bearing such rate of interest, and payable at such time or times as its board of directors shall determine;
     (2) may negotiate, sell, pledge, or otherwise dispose of the same at such price, on such terms, and in such manner as its board of directors may authorize or determine; and
     (3) to secure the payment of all or any of such bonds, securities, or obligations and the interest thereon, may make, execute, and deliver such mortgages or deeds of trust upon all or any part of its property, income, and franchises as the board of directors may determine or direct.

     History: En. Sec. 706, 5th Div. Comp. Stat. 1887; re-en. Sec. 913, Civ. C. 1895; re-en. Sec. 4294, Rev. C. 1907; re-en. Sec. 6526, R.C.M. 1921; re-en. Sec. 6526, R.C.M. 1935; amd. Sec. 11-149, Ch. 264, L. 1963; R.C.M. 1947, 72-224.